Key Takeaways
- • REX Shares and Tuttle Capital Management launched ASSX (T-REX 2X Long ASST Daily Target ETF) on Cboe, delivering 2x daily leveraged exposure to Strive shares without holding Bitcoin directly, beginning trading Friday, September 20, 2026.
- • ASSX targets 200% of Strive's daily share-price performance before fees and expenses, with daily leverage resets meaning returns beyond one trading day will diverge materially from twice Strive's performance.
- • Strive holds 25,000 Bitcoin, ranking as the fifth-largest publicly traded corporate Bitcoin holder; the company recently financed 469 additional BTC through perpetual preferred stock (SATA) sales.
- • Strive shares gained 6.4% on launch day to close at $30.09, exceeding the $29.40 average 12-month analyst price target tracked by S&P Global.
- • REX and Tuttle offer a suite of 2x leveraged ETFs across multiple cryptocurrency and blockchain names including Strategy, BitMine, Cipher Mining, Circle, and SharpLink, positioning the firms as providers of daily leverage products for active traders.
Summary
REX Shares and Tuttle Capital Management introduced ASSX, a 2x leveraged exchange-traded fund tracking Strive, a publicly traded Bitcoin treasury company, which began trading on Cboe on Friday, September 20, 2026. The T-REX 2X Long ASST Daily Target ETF is designed to deliver 200% of Strive's daily share-price performance before fees and expenses, marking the first ETF in the U.S. offering 2x daily long exposure to the Bitcoin-treasury firm.
A critical structural feature of ASSX is its daily leverage reset mechanism. Unlike conventional leveraged products, the fund recomputes its leverage daily, meaning cumulative returns over periods longer than one trading day will diverge significantly from twice the performance of Strive shares. Importantly, ASSX does not hold Bitcoin or seek to track Bitcoin's price directly; instead, it provides leveraged equity exposure to Strive shares, making it structurally distinct from spot Bitcoin ETFs already trading in U.S. markets.
Strive's operational scale and acquisition activity provide context for the launch. The company currently holds 25,000 Bitcoin, positioning it as the fifth-largest publicly traded corporate Bitcoin holder according to BitcoinTreasuries.NET data. Strive recently expanded its position by 469 BTC, financing the purchase through sales of SATA, its perpetual preferred stock offering, demonstrating an active treasury-building strategy.
Market reception was positive. Strive shares appreciated 6.4% on launch day, closing at $30.09, which exceeded the $29.40 average 12-month price target among analysts tracked by S&P Global. REX and Tuttle have expanded their leveraged ETF offering beyond Strive, providing 2x leverage products tied to Strategy, BitMine, Cipher Mining, Circle, and SharpLink, positioning themselves as providers of daily leverage solutions for active traders in the cryptocurrency and blockchain infrastructure sectors.
A critical structural feature of ASSX is its daily leverage reset mechanism. Unlike conventional leveraged products, the fund recomputes its leverage daily, meaning cumulative returns over periods longer than one trading day will diverge significantly from twice the performance of Strive shares. Importantly, ASSX does not hold Bitcoin or seek to track Bitcoin's price directly; instead, it provides leveraged equity exposure to Strive shares, making it structurally distinct from spot Bitcoin ETFs already trading in U.S. markets.
Strive's operational scale and acquisition activity provide context for the launch. The company currently holds 25,000 Bitcoin, positioning it as the fifth-largest publicly traded corporate Bitcoin holder according to BitcoinTreasuries.NET data. Strive recently expanded its position by 469 BTC, financing the purchase through sales of SATA, its perpetual preferred stock offering, demonstrating an active treasury-building strategy.
Market reception was positive. Strive shares appreciated 6.4% on launch day, closing at $30.09, which exceeded the $29.40 average 12-month price target among analysts tracked by S&P Global. REX and Tuttle have expanded their leveraged ETF offering beyond Strive, providing 2x leverage products tied to Strategy, BitMine, Cipher Mining, Circle, and SharpLink, positioning themselves as providers of daily leverage solutions for active traders in the cryptocurrency and blockchain infrastructure sectors.
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